Thanks! Is there a way to attach the CSV file directly or do I have to manually type each transaction? I have about 74 trades to report from last year.

Unfortunately FreeTaxUSA doesn't have a direct CSV import feature for crypto transactions. You'll need to enter them manually if you're not using a third-party tool like some others mentioned. If you have a lot of transactions, you might want to consolidate them by date if they're similar (like multiple small trades on the same day with the same cryptocurrency). FreeTaxUSA has a "Form 8949" checkbox that lets you indicate you're reporting summary information rather than each individual trade. Just make sure your totals are accurate.

What information did the exchange send if they didn't give you a 1099-B? I thought smaller exchanges weren't required to report?

Do you need a specific reason for hardship? My business is struggling mainly because I made some bad inventory decisions, not because of any external factors. Would that still qualify?

You don't necessarily need a specific external reason like a natural disaster. The SBA recognizes that small businesses face various challenges. Poor business performance itself can qualify as hardship, regardless of the cause. What matters is demonstrating that your current financial situation makes the original loan terms unmanageable. You'll need to provide financial statements showing reduced revenue or increased expenses that impact your ability to make payments. Your inventory decision issue would likely qualify as long as you can document its impact on your business finances.

Thanks for bringing this up! I actually didn't know about SCORE. Just looked into it and there's a chapter near me. Did you meet with your mentor in person or virtually? How long did it take to get matched with someone?

How do you even verify which type was paid? My financial service just says "tax payment" on the statement, and my company's equity admin isn't helpful.

You need to get documentation from the financial service that specifically shows the payment type and ideally the form used to make the payment. For estimated taxes, it would typically be Form 1040-ES. For AMT specifically, there's no separate payment form, but the payment should be designated for Form 6251. Ask the financial service for the exact copies of what was submitted to the IRS. Sometimes they use a payment voucher with specific codes that indicates what the payment was for. You can also request your IRS transcript which will show all payments received and how they were coded in the system. This is where services like Claimyr can help because you can ask the IRS agent directly how a specific payment was coded.

Very risky to dispute 409A valuations. The company sets those based on independent assessments, and challenging them can flag you for audit. Better to focus on properly tracking AMT credits for future years.

11 How do you know if you need to make those quarterly payments? Is there a minimum amount you have to earn?

5 You generally need to make quarterly estimated tax payments if you expect to owe at least $1,000 in taxes for the year. There's no specific income threshold since it depends on your overall tax situation, but it's a good idea to start making them if your 1099 work is bringing in more than a few thousand dollars. The payments are due April 15, June 15, September 15, and January 15 of the following year. You can calculate how much to pay using Form 1040-ES or just pay 100% of what you owed last year divided into four equal payments (110% if your income is over $150,000) to avoid penalties.

1 Thanks for the advice! I didn't realize I needed to set aside that much. Would it be smart to just open a separate savings account for tax money?

Would the IRS care if I filed with a different email than last year? Does that information even get sent to them?

The IRS doesn't receive or care about what email address you used to file your taxes. They're only concerned with the actual tax information (SSN, income, deductions, etc.), not the account details from the tax preparation software. When you e-file, the only things transmitted to the IRS are your tax forms and the data they contain, along with some tracking information from the tax preparation company. Your login credentials, email address, and account information stay with the tax preparation company and aren't part of what gets sent to the IRS.

Their customer service is the WORST. I tried calling about a similar issue and was on hold for 1.5 hours before I gave up. Their chat support just sends automated responses that don't address the issue.